There's a barometric altimeter onboard which not only records altitude, but also do stuff like set off an electrical charge at apogee and set off a charge at low altitude (if you were trying to go for low altitude deployment of the main chute). In my case I was using a Missile Works RRC2. In the case of this one, it will beep out the altitude that it reached which makes life easy. I had a Transolve P5 years ago and it would beep off a code which you had to look up on a chart to decipher its altitude!
The highest altitude Macross Plus has gotten up to was 4,604 feet on an L730 (check a page or two back). My highest altitude flight yet was with my Gundam rocket which reached 6,461 feet. I might get close to 10,000 when I fly my Macross DYRL rocket.
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Dude... can I climb aboard that flight?